Novak: Russia will produce 30 million tons of LNG by the end of the year

Novak: Russia will produce 30 million tons of LNG by the end of the year

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Russia sets a goal to take a 20% share in the world production of liquefied natural gas (LNG), this year it will produce about 30 million tons of LNG, said Deputy Prime Minister Alexander Novak, speaking at the Russia forum.

“We plan to reach a level of LNG production of about 100 million tons by 2030. And this year, for comparison, this is 30 million rubles. Our country’s grandiose plans are to become world leaders in LNG production,” he said.

According to Novak, there are more than 180 gas fields operating in Russia, and the country’s share in global LNG production is now approximately 8%. To increase this figure to 20%, several projects are being implemented in the country, including the construction of the Arctic LNG 2 plant, the Deputy Prime Minister noted.

“The consumption of LNG in the world is growing at a faster rate than the consumption of conventional pipeline gas. This is a new industry that was born recently, in 2009 the first LNG plant was commissioned on Sakhalin, and in 2017 the second plant was built on Yamal,” Novak added.

New LNG plants in Yamal will help ensure the growth of LNG production to 100 million tons per year by 2030, noted formerly Deputy Prime Minister. Also, to increase production, it is necessary to find a resource base for LNG projects by another 34 million tons per year, Novak said. According to him, taking into account the plants under construction in Ust-Luga, as well as Arctic LNG-2, Russia will produce 66 million tons of LNG per year.

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